Carlson Capital Management Sells 316 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by on May 2nd, 2023

Carlson Capital Management reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,291 shares of the information services provider’s stock after selling 316 shares during the quarter. Carlson Capital Management’s holdings in Alphabet were worth $996,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Klingman & Associates LLC lifted its stake in Alphabet by 8.1% in the fourth quarter. Klingman & Associates LLC now owns 13,864 shares of the information services provider’s stock worth $1,223,000 after purchasing an additional 1,038 shares during the last quarter. Primoris Wealth Advisors LLC grew its holdings in shares of Alphabet by 4.6% during the fourth quarter. Primoris Wealth Advisors LLC now owns 4,205 shares of the information services provider’s stock valued at $371,000 after buying an additional 185 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Alphabet by 3.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 108,840 shares of the information services provider’s stock valued at $9,603,000 after buying an additional 3,760 shares during the last quarter. Loup Funds LLC acquired a new position in Alphabet during the fourth quarter valued at $847,000. Finally, Fiducient Advisors LLC acquired a new position in Alphabet during the fourth quarter valued at $2,004,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOGL. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. MKM Partners increased their price target on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a report on Friday, March 17th. New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price on the stock. Finally, Oppenheimer raised their price objective on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the sale, the director now owns 11,300 shares in the company, valued at $1,017,565. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 100,539 shares of company stock worth $10,209,164. Insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $107.20 on Tuesday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.34 and a current ratio of 2.35. The firm’s 50 day moving average price is $100.46 and its 200 day moving average price is $96.68. The firm has a market cap of $1.37 trillion, a PE ratio of 23.88, a PEG ratio of 1.39 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the company posted $1.23 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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